- Under the deal, Valens would be extracting cannabis trim & flowers from OrganiGram’s operations in Moncton, Canada.
- The collaboration agreement between the two firms is effective immediately.
Valens GroWorks (Valens), a renowned Canadian biotechnology firm, has reportedly announced that it has entered into a multi-year cannabis-extraction agreement with Moncton, Canada-based medical cannabis producer, OrganiGram.
Reports cite, under the terms of the deal, Valens would be extracting cannabis trim and cannabis flowers from OrganiGram’s operations located in the city of Moncton in New Brunswick, Canada. The firm would also be extracting hemp for producing extract concentrate.
According to a press release by Valens GroWorks, the concentrate extracted by the company would be used by OrganiGram to create cannabis oil and derivative vaporizable as well as edible cannabis products. The move is in anticipation of the legalization of cannabis-based edibles as well as other derivative cannabis products across Canada, expected to come into effect this year. Moreover, as part of the deal, Valens would also be facilitating lab services to OrganiGram as and when needed.
The CEO of Organigram, Greg Engel stated that the company is looking ahead to another unprecedented year of firsts across the global & national cannabis industries through the company’s aggressive growth strategy. Engel further added that a crucial component of the growth strategy is partnerships with firms such as Valens, which is capable of providing the quality, capacity & expertise needed to ensure that the company makes good on its commitment to fulfil the rising demands of the global cannabis market.
The CEO of Valens GroWorks, Tyler Robson stated that Valens is thrilled to be classified as a trusted partner of OrganiGram as well as the entire Canadian cannabis industry and is proud to work alongside the company in looking for innovative technologies to better serve their customers’ long-term needs.
According to reports, the financial information related to the matter has not been unveiled by the companies yet.